Saudi Arabia and Russia confirmed, on Thursday, their commitment to the decision taken by the “OPEC +” group, last October, to reduce production by two million barrels per day until the end of the year 2023.
The Saudi Press Agency, “SPA”, said that the Saudi Minister of Energy, Prince Abdul-Aziz bin Salman, and the head of the Saudi side in the joint government committee between the Kingdom and the Russian Federation, met in Riyadh with the Russian Deputy Prime Minister, head of the Russian side in the joint committee, Alexander Novak.
The agency added that “the two parties discussed the conditions of the global petroleum market and the efforts of the OPEC + group aimed at enhancing market stability and balance.
They affirmed their countries’ commitment to the decision taken by the group, last October, to reduce production by two million barrels per day until the end of 2023, and the continuation of cooperation between the two countries.” Within the framework of OPEC +, to enhance the stability and balance of the global market.
“SPA” indicated that the talks between the two parties included preparation for the next session of the joint committee and ways to develop relations in a way that serves the interests of the two friendly countries, within the framework of the work of the joint committee.
The Kremlin said, on January 30, that Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman discussed cooperation within the framework of “OPEC +” to maintain the stability of oil prices.
Last week, Saudi Arabia and Russia reaffirmed their close cooperation with regard to the “OPEC +” alliance, during the meeting of the foreign ministers of the two countries, as they discussed issues related to the crisis in Ukraine, Syria, and grain supplies.
Lavrov said at the time that he confirmed during the meeting Russia’s readiness for joint coordination with Saudi Arabia within the framework of “OPEC +”, stressing that cooperation with the Kingdom in the field of energy is not subject to fluctuations or external influence.
Lavrov also indicated that “Saudi Arabia is showing great interest in finding a solution to the crisis,” and that Russia appreciates that, adding that Moscow “welcomes all efforts that could lead to real dialogue.”